WVC 18 - 30 - 10
§18-30-10. Reports and account; annual audit.
(a) In addition to any other requirements of this article, the
board shall:

(1) Provide annually summary information on the financial
condition of the prepaid tuition trust fund and statements on the
savings plan accounts to the respective account owners;

(2) Prepare, or have prepared, a quarterly report on the
status of the program, including the trust funds and the
administrative account, and provide a copy of the report to the
joint committee on government and finance and the legislative
oversight commission on education accountability; and

(3) Prepare, or have prepared, an annual actuarial report of
the prepaid tuition trust fund and transmit a copy of the report to
the governor, the president of the Senate, the speaker of the House
of Delegates and the legislative oversight commission on education
accountability.

(b) All accounts of the board, including the trust funds, are
subject to an annual external audit by an accounting firm, selected
by the board, of which all members or partners assigned to head the
audit are members of the American institute of certified public
accountants. The audit shall comply with the requirements of
section thirty-three, article two, chapter five-a of this code.

Note: WV Code updated with legislation passed through the 2014 1st Special Session
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